With forecast heavy rains for Saturday and the potential for both river and flash flooding, students are asked to avoid parking in low-lying areas of parking lots C, D, E (along the tree line), F (eastern most entrance by the pond), and N-Annex. Cars should now be on higher ground within these lots or in Lot F (by Konover Campus Center). Vehicles should be returned to their assigned parking lots by 8 p.m. on Sunday, April 21.
The Office of Human Resources Development (HRD) would like to remind our faculty and staff of the taxation of graduate-level tuition benefits. Current IRS regulations on employer-provided educational assistance require that the value of graduate-level education benefits taken by the employee in excess of $5,250 within a calendar year be recorded as income to the employee, making them subject to tax withholding. IRS regulations allow for an exception to this rule when the graduate course(s) taken by the employee is required to maintain an employee’s current position, courses are mandated to maintain a professional certification or licensure or courses are required as a condition of employment for new hires. Employees seeking to add to their credentials by earning an advanced degree or those hoping to advance professionally by pursuing an advanced degree are not eligible for this exemption.
To apply for consideration of this taxation exemption, you must complete and submit the Application for Tax Exemption of Graduate Level Course form to HRD no later than two weeks after the course begins. Once a determination is reached, you will be notified. For your convenience, this form can be downloaded from the HRD website forms page at http://www.hartford.edu/hrd/Forms.aspx.
Employees who receive tuition remission for graduate level courses taken by their spouse and/or dependent child(ren) are subject to tax implications on the entire value of this benefit. The withholding amount will vary based on the number of credits taken per semester and the employee’s tax bracket. Deductions will be taken directly from the employee’s paycheck during the semester in which the course(s) is taken.
If you have any questions regarding graduate-level education tax, please contact the Payroll Department at firstname.lastname@example.org or at 860-768-4579.